HIDCL Is A Financial Institution: NRB
January 31, 2022 | Investopaper
Nepal Rastra Bank has approved Hydroelectricity Investment and Development Company Limited (HIDCL) as a bank and financial institution. According to the Banks and Financial Institutions Regulation Department of the Central Bank, the meeting of the Board of Directors of the bank held on Magh 3 has given approval for the recognition of HIDCL as the financial institution.
The government had set up the company for the development and expansion of Nepal’s energy sector. The company has invested in various hydropower projects. It has also started the process of construction of two hydropower projects in the name of Remit Hydro. The total capital of HIDCL is Rs. 23.76 billion.
